---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-072168"
form_type: "8-K"
ticker: null
cik: "0001397047"
company_name: "FlexShopper, Inc."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T20:34:33.271651+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# FlexShopper suspends CEO/CFO, restates 2022-2024 financials after forgery probe

## Summary
- Board suspends CEO/CFO H. Russell Heiser Jr. without pay after investigation into alleged forged documents provided to auditor Grant Thornton.
- Company will restate financial statements for fiscal years 2022 and 2023, and quarters through Q3 2024; those statements should no longer be relied upon.
- John Davis, President and COO, assumes duties as principal executive officer.
- Forbearance agreement with lender BP Fundco, LLC extends draw period and forbears on default for delayed FY2024 financials until August 30, 2025.

## SEC filing metadata
- accession: 0001213900-25-072168
- form_type: 8-K
- cik: 0001397047
- company_name: FlexShopper, Inc.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 4.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397047/000121390025072168/0001213900-25-072168-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397047/000121390025072168/ea0251867-8k_flex.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-072168
- JSON: https://secwatch.observer/filing/0001213900-25-072168.json
- Plain text: https://secwatch.observer/filing/0001213900-25-072168.txt

## Key facts
- Auditor Changes
  FlexShopper, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Grant Thornton LLP
  source text: On July 30, 2025, the Board of Directors of the Company, after consultation with its independent forensic investigations firm and Grant Thornton LLP, the Company’s independent registered public accounting firm, concluded that the following previously issued financial statements of the Company should no longer be relied upon:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397047/000121390025072168/0001213900-25-072168-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.